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As the sun rose over Busan, South Korea, the city was captured in a breathtaking panorama, signaling a bright start for Asia-Pacific markets on Wednesday. This positive outlook followed a tech-led resurgence on Wall Street and a notable rally in the cryptocurrency sector.
Bitcoin made a significant leap, surging over 7% to surpass the $90,000 threshold during overnight trading. This comes after a steep decline just the day before. By the latest update, Bitcoin was trading at $91,462.
In Japan, the Nikkei 225 index saw an increase of 0.74%, while the broader Topix index remained steady without any significant change. This indicates a cautious yet optimistic atmosphere in the Japanese market.
Meanwhile, Australia’s S&P/ASX 200 index experienced a 0.3% rise in early market activity. Investors are keenly awaiting the release of the third-quarter GDP data, which could provide further insights into the country’s economic trajectory.
Japan’s Nikkei 225 climbed 0.74%, while the broad-based Topix was flat.
Australia’s S&P/ASX 200 gained 0.3% in early trading, ahead of third-quarter GDP data.
South Korea’s Kospi was up 0.29%, while the small-cap Kosdaq rose 0.10%.
South Korea will release its revised third-quarter GDP numbers later in the day. South Korean president Lee Jae Myung is expected to address the country on the first anniversary of former President Yoon Suk Yeol’s failed martial law declaration, followed by a press conference, according to South Korean media.
Hong Kong markets were set to open lower, with Hang Seng index futures at 25,965, compared with the HSI’s last close of 26,095.05.
U.S. stock futures were little changed during early Asia hours after major U.S. indexes recovered some losses from the previous session.
Overnight in the U.S., the Dow Jones Industrial Average gained 0.39%, while the S&P 500 climbed 0.25% and the Nasdaq Composite advanced 0.59%.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
